Likewise, total revenue dropped 4.5% to $1.41 billion.Īs a result, Under Armour slashed full-year outlook projections, lowering them significantly to be more in line with real data. That quarter alone, net profits were only $54.2 million, down from $128.2 million in the third quarter of 2016. On the call, newly-appointed president and COO Patrik Frisk explained that the brand’s declining sales numbers were attributed to a decrease in demand, coupled with critical operational challenges. 8 MyFitnessPal had 80 million users at the time. 6 7 On February 4, 2015, MyFitnessPal was acquired by athletic apparel maker, Under Armour, in a deal worth 475 million. There was little reported on the project when it first rolled out, but an October 2017 third-quarter earnings call brought many core issues to light. Released in September 2005, MyFitnessPal was developed by Mike Lee, with his brother Albert Lee later joining him to launch the app and the company. It was designed to integrate the following Under Armour functions across North America and Europe: The ERP upgrade officially launched on July 1, 2017. The goal? To upgrade Under Armour’s existing SAP ECC 6 platform to S/4HANA. Seeking to unify and simplify operations, the company partnered with SAP to initiate a software project. It’s a virtual fitness community that includes various digital platforms, including: The Under Armour brand encompasses more than just sportswear.
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